On Thursday, Thomson Reuters hit a noteworthy technical benchmark, with its Relative Strength (RS) Rating rising into the 80-plus percentile with an improvement to 82, a rise from 78 the day before.
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This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
Over 100 years of market history shows that the best stocks often have an RS Rating of at least 80 in the early stages of their moves.
Thomson Reuters is now considered extended and out of buy range after clearing a 180.42 buy point in a first-stage flat base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Thomson Reuters reported 1% earnings growth in the latest quarterly report, while sales growth came in at 1%.
Thomson Reuters earns the No. 3 rank among its peers in the Commercial Services-Market Research industry group. Verisk Analytics is the top-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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